Sales Tax Savings Ahead - Sales Tax Holiday!

Posted on 07.25.16

By Terry Barrett, Senior Tax Manager | State and Local Tax Team

The weekend of August 5-7th will provide Virginia shoppers with an opportunity to save on sales tax on certain types of purchases.  The savings can be found on the following:

  • Back to School items, including school supplies ($20 or less per item, clothing and footwear ($100 or less per item);
  • Hurricane Emergency Preparedness items, including portable generators priced at $1,000 or less, batteries, bottled water, etc.; and
  • Certain types of energy efficient products, including qualifying Energy Star™ and Water Sense™ Items (e.g., dishwashers, clothes washers, light bulbs, shower heads, etc.).

Retailers of the above products will not be collecting the tax on qualifying sales.

In addition, other retailers may choose to participate in the holiday by paying the sales tax on any taxable items themselves and passing the savings on to their customers.  The savings extend to qualifying items purchased online, by mail order, or over the phone.

For more information see the Virginia’s Department of Taxation’s website at http://www.tax.virginia.gov/salestaxholiday.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

Posted by: Terry Barrett, CPA

Terry Barrett specializes in state and local tax concerns for her clients. She has over 30 years of experience working in the public and private accounting sector. She is a graduate of Virginia Commonwealth University. You can read more of Terry’s state and local tax insights here.